Disequilibrium in the Labor Market in South Africa

Bankim Chadha

IMF Staff Papers, 1995, vol. 42, issue 3, 642-669

Abstract: Unemployment in South Africa is decomposed into a cyclical and a structural component. The estimates suggest that unemployment is largely structural. Alternative explanations for the persistence of deviations of market wages from full-employment levels are examined. Three models that are empirically capable of generating the observed wage and employment gaps are presented. The predictions of the models for wages and employment are discussed in light of recent and prospective developments in South Africa.

Date: 1995
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